Dear Caroline,What an interesting, almost existential, question. The short answer is no, bad credit and no credit aren't the same. However, their effects on your ability to qualify for a credit card, car loan or other loan could be the same. The paths to good credit from bad credit or from no credit also are similar, but a person with no credit is more likely to get good credit faster.

Let's start with why they are different. When you apply for credit, the lender relies on your credit history to help determine if you will pay back your debt as agreed. Your credit history acts as your "credit reference," says Rod Griffin, director of public education at Experian, one of the three national credit reporting agencies.

I Do Not Debate Stupidity, Nor My Superiors, All Others I Teach. __Dr John Henrik Clarke